Today’s Brew 3-7-17

Forbes

Brian Domitrovic has a new column at Forbes.com:

Free Trade And Fiat Money: The Two Lodestars of ‘Settled Economics’

Excerpt:

If all money, or at least a good part of it, in the world, were credible money, the United States would not be in its strange current position of outsourcing production of regular goods and services so that we can produce the world’s money. If the U.S. led the world into an international gold standard, that is, we would develop a very different profile of economic activity in our own country—very much including more manufacturing.

Even we supply-siders can concede one thing. If Congress and the president would set up a low, flat sales tax on all goods, foreign and domestic, in exchange for a repeal of the 16th amendment to the Constitution that establishes the income tax, we would see an improvement in economic efficiency and growth. And if Congress and the president did this concurrent with a definition of the dollar in gold (a move that is ultra-Constitutional), we might stand to reclaim our good economic old days of yore.

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